Varo Money vs Banco PAN.
Varo Money (V82/100) and Banco PAN (B75/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Varo Money leads Banco PAN 4-1.
| B Banco PAN №21 · BACEN 75 /100 | V Varo Money №04 · OCC 82 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 82 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 3.00% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank BACEN | Full bank OCC |
| Deposit guarantee Per depositor | €250,000 BR.FGC | $250,000 US.FDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | Yes | No |
| UX | ||
| Trustpilot Customer score | — | 4.2 ★ 8k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.5 · And 4.4 | 4.6 ★ iOS 4.7 · And 4.5 |
| Read review → | Read review → | |
Pick Banco PAN if…
Brazilian full bank, BACEN-licensed since 1969 (digital pivot 2018). BTG Pactual majority owner since 2021. B3-listed. ~28M customers. FGC cover. Adds full-bank diversity to Nubank/Inter/C6 in BR; differentiates by payroll-deductible lending heritage.
Pick Varo Money if…
First US neobank to receive an OCC national bank charter (July 2020). Direct FDIC member — your money sits at Varo Bank, N.A., not a sponsor. Headline 5.00% APY savings rate on the first $5K with direct deposit — among the highest in the US neobank market.
- Best for fees Varo Money won 1 of 4
- Best for protection Tied
- Best for reach Banco PAN won 1 of 3
- Best for ux Varo Money won 2 of 2
Varo Money vs Banco PAN — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Banco PAN better than Varo Money?
Under our v3 methodology, Varo Money leads Banco PAN 4–1 across 12 dimensions. Composite scores: Banco PAN 75/100 vs Varo Money 82/100. Varo Money is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Banco PAN or Varo Money cheaper?
Monthly fee — Banco PAN: €0; Varo Money: €0. Card FX markup — Banco PAN: 3.00%; Varo Money: Interbank. Varo Money wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Banco PAN or Varo Money?
Banco PAN holds a Full bank licence under BACEN; deposit guarantee per depositor: €250,000. Varo Money holds a Full bank licence under OCC; deposit guarantee per depositor: $250,000. Both score equally on regulatory protection rows.
Where can I use Banco PAN and Varo Money?
Banco PAN operates in 1 country; Varo Money operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.